Yes, you can host multiple domain names on your account, as long as you are using the Basic Hosting, Ultra Hosting, or Unlimited Hosting plans (new cPanel servers). This feature is not available for the Windows hosting plans.
The number of domain names that you can host is as follows:
Basic Hosting: 10 add-on domains
Ultra Hosting: 100 add-on domains
Unlimited Hosting: Unlimited add-on domains