If you mean "Phantom 2", then the answer is yes, as both are 2.4 Ghz setups. If you mean one of the other Phantom 2's (Vision, Vision Plus), then the answer is "no, unless you change the receiver to 5.8 Ghz also."
And just to be complete, the original Phantom 1 used a 2.4 Ghz PPM tx (model SR6) which is not compatible with later SBus/DBus tx (model DJ6).