Yes (see here for details)

Arguments:

(required) long : albumid - the id of the album
(required) long: categoryid - the id of the new category for the album
(required) string : publickey - the public key of an application
(required) string : token - the access token

Request Example:

http://www.bluemelon.com/api/rest/{api_sign}/
?method=bluemelon.albums.addtocategory&albumid=50&categoryid=4&publickey={publickey}&token={token}

Response Example:

<rsp status="ok" onrequest="bluemelon.albums.addtocategory" />

Error Codes:

4 - "Missing parameter"
5 - "Invalid parameter"
7 - "Album not found" 
12 - "Application not found"
14 - "Invalid accessToken"
15 - "Category not found"
16 - "Access token timed out.You must relogin."
17 - "Invalid call signature size"
18 - "Invalid call signature"
20 - "Missing api_sign"
600 - "No write permissions"
603 - "Account recently expired or deleted"
602 - "No read permissions"
603 - "Account recently expired or deleted"