Yes. SAP HANA supports SAP NetWeaver BW in two configurations.
First configuration: the SAP NetWeaver BW can be connected to SAP HANA through the SAP BusinessObjects Data Services to enable batch loads of the data into SAP HANA. This configuration is useful when you want to use SAP HANA as an analytic engine and are including SAP NetWeaver BW data to the transactional data being analyzed.
Second configuration: is for SAP HANA to be the underlying database for SAP NetWeaver BW. In this configuration the system for SAP HANA is the database for your SAP NetWeaver BW application.
This solution is a typical database deployment and will accelerate query activities against the SAP NetWeaver BW only.
Tags: Does SAP HANA support data feeds from an existing SAP NetWeaver BW?