Yes it's possible but mind you, you have to actually program the functions into the PIC, you can't just hook up a capacitor and resistor like you can the 555 and expect it to work instantly.
With the appropriate code however you could simulate the same oscillating function of a 555 using a resistor, capacitor, and 2 pins on the PIC, allowing you to change the frequency the same way as the 555 timer.
Or completely forgo that option and just create the oscillating output entirely in code
Though considering the fact you want to replace the 555timer(a $0.25 part) with a microcontroller (a 2$ part) suggests you intend on having it accomplish other functions other than producing an oscillating output.