Yes. Every chart stays in the workbook, linked to its data, with its settings saved in the file. Point at the chart, click Edit in its toolbar, change the chart type, the scenario mapping, the options or the title, and click Apply. Cancel leaves the chart as it was.
To point the chart at different data, select the new data and click Rebind, or use Use current selection under Data in the editor. Editing Pro chart types needs a license or the trial; viewing never does.