Yes, save it as a TGO (right-click the node, Save Object File, choose TGO; saving as OBJ won't maintain any Terragen-specific nodes/settings), or save the object node and any additional texturing nodes as a clip file (TGC). The TGC approach is better if you don't want to actually convert the OBJ to TGO (TGO is self-contained but cannot be edited later in other programs), but just want to keep the TG-specific settings in a way that's easy to add to other scenes.
- Oshyan