Yes. Mulch helps keep the moisture under the tree canopy and suppresses weed growth that can compete in the root zone for nutrients. It additionally keeps turf away from the trunk, reducing the risk of string trimmer and mower injury.
Mulch should be 3-4 inches deep and kept 1”away from the trunk. Guard against purchasing mulch that is kept in large heaps that can become anaerobic (without oxygen) and potentially toxic to your tree. Spread mulch around your tree in a manner that is aesthetically pleasing to you. Mounding of the mulch should be avoided.