Yes, provided that he / she becomes President more than two years into the initial term.
The twenty second amendment to the US Constitution stipulates that a President is not eligible for re-election if they have served more than six years in office.
Gerald Ford, had he been elected in 1976, would have been eligible for re-election in 1980, for instance.
No President has served more than two terms since the adoption of the amendment, however.
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