Kinda. What happens (according to Hawking's equations) is that the universe is constantly producing paired particles and anti-particles at the quantum level. These particles are almost always instantly drawn to each other like magnets of opposite polarity, and annihilate when they meet.
However, near a black hole, the anti-particle is drawn towards the event horizon (the point at which even light can't escape) while the particle is repelled (the way two positive magnets repell each other). So the anti-particle goes into the black hole and destroys a particle inside, reducing the size of the black hole, while the particle is hurled away, becoming radiation.
So the black hole itself doesn't actually emit radiation--it's still "black" in that respect--but thanks to a strange interaction that goes on just above the even horizon, radiation can be observed apparently coming from it and reducing it in size. This radiation is called Hawking's Radiation for the obvious reason. In a small enough black hole, the anti-particles reduce it to nothing in less than a second, because its gravity isn't strong enough to replace the particles destroyed by the anti-particles from its surroundings fast enough.
A larger black hole would also "radiate away" in this fashion provided that it were isolated from other matter so that its intake of particles was slower than its intake of antiparticles, but this would of course take far, far longer.
As someone else said, if they DID make a micro-black hole, let's hope that Hawking didn't forget to carry the two. :^)
I thought that was discovered by Richard Feinman, not Hawking.
Thanks for the explanaion!