Yes, you can hook up a DVD player to it.
However, I would suggest that you also invest in a Blu Ray Player. Not only does a Blu Ray Player give you a Full HD picture, and now allows you to play Blu Ray movies but also plays DVDs and upscales the DVD's to near 1080p so you'll get an amazing picture to display on this new TV.
Plus, it'll be a simple hook up with just one HDMI cable running from the Blu Ray to TV.
Just keep that in mind, it would be a smart purchase to go Blu Ray just to have the better picture and sound, as well as more special features that are added to the Blu Ray Disc that can't be added on DVDs, as well as better sound support.