Yes, the term "professor" can be used to refer to a woman who holds the position of a professor at a university or educational institution. The title "professor" is a gender-neutral term and does not exclusively refer to men. It is used to address or refer to individuals who are esteemed for their expertise and teaching roles in academia, regardless of their gender. So, it is entirely appropriate to use "professor" when addressing or talking about a woman in a teaching or academic position.