No it is not. In fact it is available as an alpha release.
As the Android Team report on its website
Caution: Android Studio is currently available as an early access
preview. Several features are either incomplete or not yet implemented
and you may encounter bugs. If you are not comfortable using an
unfinished product, you may want to instead download (or continue to
use) the ADT Bundle (Eclipse with the ADT Plugin).
Here is the link to the first Beta release of Android Studio.
