I would say yes, one reason would be because he decides to leave his home for the dwarfs to go against a dragon. He had time to leave but he never did plus he helped save them a lot of times, like when he was able to keep the ogres talking so that gandalf could help them out. A hero in my opinion is someone who helps another person without selfish reasons, which that's what Bilbo did. He also went against the orc who was gonna kill thorin and he stated that while he had a home and they didn't he would help as much as he can for them to get theirs back, he also helped them escape from prison in the elf's home. so he pretty much rescued them a lot.
