Yes you can. See this article to know how to do that:

1. Add "Show Developer tab" into ppt 2007 or 2010 (Not for PowerPoint 2003 or the other old versions). Click Microsoft Office Button on the top left and click “PowerPoint Options”, then go to the “PowerPoint Options” window and click “Popular”. Please choose “Show Developer tab in the Ribbon” and click “OK”. (View the sample picture)
2. Add "Shockwave Flash Object" into PowerPoint 2007 or 2010. Click the “Developer” tab and go to “Controls” group, then click the icon of hammer and nail for “More Controls” to go to the “More Controls” window. On the “More Controls” window, please select “Shockwave Flash Object” in the list, then click “OK” at the bottom and use your mouse to drag on the panel to resize the control(View the sample picture)

3. Please right click the control to choose “Properties” and go to the “Properties” window, where you can add the related information for movie.

4. On the “Properties” window, you click the “Movie” property and type SWF movie file path into the value textbox, including the file name (e.g. C:\ppt.swf) or URL (e.g. http:/www.yourwebsite.com/ppt.swf from a website)

5. To make the Flash animation slideshows play automatically when the PPT presentation is viewed. You need to set the “Playing” as “True“ if you want your animations play automatically. To embed the video movie animations into PowerPoint, you need to set “Embed Movie” as “True”.
6. When all is ready, you save your presentation and close the “Properties” window. On the View or Slide Show tab, you can preview your Microsoft PPT presentation with movie slideshows.