Definitely.
All too often, we have energy-guzzling heaters or gas burners creating heat in a room only to find that the hot air they generate, rises and becomes trapped up at the ceiling!
By running your Fan at slow speed (no need to reverse rotation) the downdraft re-circulates the hot air trapped at the ceiling, to provide even, comfortable heat throughout the room.
A ceiling fan consumes roughly 5% of the energy of an average 1500Watt electrical heater used in the home, but can achieve heating savings of up to 30% by dispersing the hot air normally trapped in the roof space.