Yes it is. You'll need to uncheck the Bookmarks checkbox.
On a Windows computer, open the iCloud Control Panel, then select or deselect each feature. To make your changes take effect, click Apply.
When you turn on Bookmarks, iCloud keeps your bookmarks in the Windows browsers you select up to date with bookmarks in Safari on your iOS devices and Mac computers that have the iCloud Safari feature turned on (iCloud Bookmarks in OS X v10.7.5). To change the Windows browsers whose bookmarks you want to keep updated, click Options next to Bookmarks. For information about browsers supported by iCloud Control Panel, see the Apple Support article iCloud: System requirements.