Yes. Special soft contact lenses called toric lenses correct astigmatism.
Toric soft lenses have different powers in different meridians of the lens and either a prism ballast or thin zones to stabilize the lens and keep it from rotating during blinks and eye movements. These stabilizing elements in the toric lens design also align the proper lens powers in front of the appropriate meridians of the eye, thus correcting the different meridional powers of the astigmatic eye.
Because toric lenses have a more sophisticated design than regular soft lenses, they cost more. But soft toric lenses are still very affordable. They also are available in disposable and frequent replacement designs for greater comfort, safety and convenience.
Popular disposable and/or frequent replacement toric lenses include:
ACUVUE Toric (Vistakon)
Focus Toric (Ciba Vision)
Soflens 66 Toric (Bausch & Lomb)
Preference Toric (CooperVision)