Yes, it is.
Though what's shocking is that it sounds a bit like the original Eight is Enough tune. Same composer and production comany.
They changed the theme repeatedly over the years, but the one at link (from one of the final seasons) sounds very close to the original. Thankfully they got rid of the electronic drums that were added in the mid-'80s to the themes of countless shows, most egregiously "Santa Barbara." They also extended the length by two bars once the cast got too fit to fit within the confines of the original (and then kept it even after the cast size diminished).