Yes. The home button is just a plastic piece with no real adhesive on the original digitizer. There is also a piece behind it, which has a similar shape as a trapezoid. This has two contacts, one on either end. The home button presses on this piece, which presses the contacts down. Make sure you note the position of the home button (on the back of the digitizer) before removing it.
Edit: Also, be sure to transfer the metal piece at the top of the digitizer where the front-facing camera is.
Neither of these pieces were difficult to remove, and I used a double-sided tape to re-adhere the metal camera piece to the new digitizer.