Depends on what you mean...
Ctrl-Alt-Del does two different things on PCs (well, three, if you count its role in logging in)... if you press it once, it tries to do something analagous to the force quit, and allow you to quit an app. So yes, this function is pretty much the same, and you can use Opt-Apple-Esc.
The second thing it does is force a warm boot if the system cannot recover to the manager that lets you quit apps. The way to do this on Macs is to hold the pwoer button down....
Once you get to the point where the mouse is non-responsive, on either PCs or Macs, you're going to be warm booting. So that's pretty much what you're left with.
But are you asking if you can warm boot from the keyboard, because your keyboard is far away from the power button, or will the power button work for you?