Yes. Compost is the product of plant breakdown and is both a soil amendment and a source of slow-release nutrition for plants.
To get ideas on how to make it, browse this forum. Depending on your situation, you may want a bin or may not need one.
There are many schools of thought on how to make compost, as well; choose the method that is most workable for you.
USDA Zone 9, Sunset Zone 17