Yep, there sure is! There is even a DH Wiki article that tells how to use php cli.
Actually, that article probably needs an update, as there are several versons of PHP you can run from the command line:
- PHP4 is located at /usr/local/bin/php
- PHP4 is also located at /dh/cgi-system/php.cgi
- PHP5 is located at /dh/cgi-system/php5.cgi
(Edited to add additional path information)