Yes, and in fact, every cyclic $R$-module is isomorphic to one of the form $R/I$ with $I$ an ideal of $R$: if $M$ is a cyclic $R$-module generated by an element $x \in M$, then $M \cong R/\operatorname{Ann}_R x$, where $\operatorname{Ann}_R x = \{r \in R : rx = 0\}$ is the annihilator of $x$. The isomorphism is induced by the map $R \to M$ given by $r \mapsto rx$, which is surjective because $x$ generates $M$, and whose kernel by construction is the annihilator of $x$. Note that this does not require $I$ to be a principal ideal.
Also, conversely, every ideal $I$ is the annihilator of some cyclic module, because $\operatorname{Ann}_R(R/I) = I$.