Yes. The first step is figuring out what missiles are coming at you. The ones from the SAM launcher that shoots two are extremely difficult to evade. So here chaff is essential.
If you don't have that, obviously then the easiest is flying very closely around objects. The missile tries to get you using the closest path it can, so if a shortcut to you goes through a mountain or anything else, that's going to stop the missile.
Finally, you can outmanouver the missile even in mid air, though it's not easy. Missiles, if they shoot past you, don't turn around and come back. They can turn only so much, and the key is for you to be turning right before they hit you. In practice, you'll see skilled pilots make a sequence of short turns quickly following one another once they get a missile on their tail. The most efficient way to do this is by a combination of using the motion controls for general steering and then amplifying this using the right analog stick (I think it's the right analog stick by default, with the left analog stick controlling the aiming reticule - but your settings may vary).
Be careful though - there are default and special missiles, and the heavy hitters (I think they are yellow icons when you pick them up) are a lot harder to evade. A SAM launch pad shoots two of these heavy babies at once, and they rarely miss ... (which is also cool, when you are manning one of these babies yourself
). But they can be evaded like the other missiles using the above means, it's just a great deal harder.