Yes, This is called "Domain Parking". Please login to cPanel and select park domain. Nameservers on your domain should be changed with your default nameservers before you park the domain.
Essentially, to park a domain name means to reserve your registered domain until you have created the site content, found a hosting provider, or sold the domain to a third party. When you park your site, a temporary Web page will be displayed until you have decided what to do with the domain. Domain name parking is often used by registrants who do not yet have a hosting provider. Parking options include a one-page Web site that'll inform the visitor to the site that, for example, this page is "Under Construction," "Coming Soon," or "For Sale." You can also elect to have a customized page displayed. To set up your parked domain, use the One-Page Web Site Setup Wizard in the "Parked Pages" section of the account management department.