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Yes and no because you will have twice the aggregate/available bandwidth but any one flow will only use one link.
Also how well multiple links are utilized depends on your traffic relative to the hashing algorithm.
For dual Etherchannel, expect an effective aggregate increase starting at about 50%. (Why not full doubling? Well Etherchannel doesn't account for link loading. Given two links and two flows, the second flow has a 50% chance of being assigned to the same link as the first flow. More flows, though, should distribute across the links so your aggregate utilization should improve.)
PS:
Although the bandwidth increase might not be exactly what you desire, for multiple flows you do normally get more effective bandwidth, and especially when working with stacks (or VSS or vPC), you get some additional redundancy too.
