Yes, if the TV supports 1920 x 1080 pixel.
Just make sure you have deselected "Mirror Displays" in System Preferences > Displays >> Arrangement and have set the TV to its native resolution, if that resolution is in fact 1920 x 108, as many HD TVs only have a resolution of only 1366 x 768 or something similar and the highest Blu Ray resolution is 1920 x 1080.