Floris absolutely. This is standard for most scripts that create site sections or sites. It's the first thing you want to do to personalise your site.
When I first tried xf I wasted ages and ages looking for the place in admincp to upload my logo.
It's no problem for me to find the url of the exiting image, and replace it with mine under the same name.
But as so much else is customised in admincp it makes sense that this should be as the first most basic item.
How do I replace the Xenforo Facebook recommend/like logo with my own?
Upload your logo to the server and change the image path in the ACP -> Styles -> Style Properties -> Header and Navigation -> Settings: Facebook Open Graph Logo. Due to caching it can take several weeks for the image to update on the Facebook servers.