Yes, but the length of time between turns for both your characters and you opponents varies dynamically depending on various magic effects and items. It's not truely turn-based; you don't get a number of turns before the boss gets to hit you, if yer half-way through a turn and the boss gets his go, he'll clobber you while you're choosing something. It's a bit like how, in Tekken, you get to punch a guy, then it takes a certain amount of time for you to recover before you can do something new- it's just the "turns" are a lot faster than FF...
Unlike in, say, Advance Wars, were everything is very polite and orderly and you take turns at bettering each other.