Yes, bitcoin can be divided into 100 million smaller parts called satoshis. The smallest amount of bitcoin - satoshi is similar to euro or any other fiat currency cents and is named after Satoshi Yakamoto, the creator of bitcoin. Due to such divisibility, even with at high prices bitcoin is perfect for micropayments as it is feasible to make payments of value even lower than 0.01 USD. In future if required the divisibility of bitcoin can be increased to make it divisible to 100 billion smaller parts or even more as this constraint only exists in the source code.
Below you can find a list of bitcoin denomination names, bitcoin units and their value in bitcoins.