Absolutely. On Android, go to Contacts → Select contact → Edit → Ringtone. On iPhone, tap Edit → Ringtone.
Drag the .m4r file into the "Tones" section of your device in iTunes/Music. Looking for More?
This phrase is famously associated with the classic Tamil melody (or similar devotional/romantic tracks). The most popular search intent is usually for the song "Ennodu Kaadhal Ennodu" from the movie Kadhalar Dhinam .
If you're looking to download a specific song as a ringtone, I recommend using official channels or well-known apps to ensure safety and legality.