In terms of physical size, for sure. According to various forums, the PS3 stops at 1TB, but I can't confirm that. With my PS4, things look different again. When converting, just make sure to first make a backup on an external HDD if you don't want to reinstall and adjust everything. (Google and YouTube help here).

However, if finances allow it, I would recommend an SSD (e.g. Samsung 860 Pro).