Yes, if Sytem Restore is working properly and you have not previously told it to turn off. This is an important use for it.
When System Restore works it is great ! However, it is very problematic. All sorts of viruses and other malware can disable it an keep it from working.
To guarantee that the Registry gets backed up regularly and thoroughly you can install ERRUNT.http://www.snapfiles.com/get/erunt.html
Once installed it runs automatically every time you start up.
A nice feature of ERUNT is that if you can no longer boot into your usual login account, but can still boot into Safe Mode then you can browse to C:\WINDOWS\ERUNT and into a particular day's folder, run ERUNT which will fully restore your Registry. Any modifications that a virus or other malware made to the Registry will be removed. ERUNT is not able to remove malware files that exist on your hard drive, but can effectively stop many from starting up due to their Registry entries.