Yes, and its not only used to locate prey, but to detect any animate or inanimate object further ahead of that animal. That's why its called echolocation...the sound waves return to the animal that produced it, making an "echo".
Is this making any sense?
I also seem to remember Sir David Attenborough in Life on Earth (1979) saying that hippos, or at least whatever creature evolved into the hippos we know today, is very possibly the ancestor of whales.