Yes, why not.
I use this for indicating me, if my batch is done: a savings pig.
A click puts the coin into the pig and as long as the software is busy the coin stays inside.
I used the "ImageList" component to import my pig.
From there I added it onto my form.
I attach you three screenshots:
The transparency shown in blue within the ImageList-Editor.
And how it looks at the form at design time and in the running application (the icon left to it has a white background).
I work with Lazarus 4.4. and a Win 7 VM.
About one year ago, I failed to do this within Linux Mint, what may have had many reasons.