Yes.  But it wasn't until a whole host of Tolkien clones, with Shannara at the fore-front, sold a whole bunch of books that the Tolkien flavor of fantasy came to equate with fantasy as a whole.  Before then, Tolkien was Tolkien.  He sat at that odd middle ground between "kid's" fantasy (Narnia, Wizard of Oz, Alice) and Swords & Sorcery.
Before Brooks, to the extent that fantasy was recognized as a genre unto itself at all, it was a much more wild, woolly, and more broadly encompassing genre than the way it came to be viewed in the late-'70s and '80s.  Again, with D&D being no small part of the phenomena, particularly in ingraining Tolkien's zoology (elves, dwarves, etc. or their relatively obvious stand-ins)  as the universal fantasy world population.