The short answer: no.
The long answer is: yes, so long as he doesn't get injured.
Let's look at the stats:
Malkin has a healthy 10 point lead with just 13 games to go. And, based off of points per game ratio, obviously Geno's got the leg up on his closest two competitors if the rest of the season plays out like it has so far.
If that's the case, here's how the season ends:
Malkin: 115
Ovechkin: 104
Crosby: 104
Right now, we might as well throw out Crosby. Considering that Geno plays power-play time with Crosby (and they almost always share points on that) there's no way, short of an injury, that Sid makes up the difference of 11 points in 13 games on his teammate.
So that leaves only Ovechkin to stand in Malkin's way of the Art Ross. As shown above, if AO were to get his normal points from now until the end of the regular season , he'd wind up with 104. If he gets hot and goes on a streak, he probably maxes out at 108 tops. While that may not seem like a huge boost, it would mean he gets 21 more points in 13 games; a 1.6 ppg average for a guy mainly known as a shooter.
If AO ends up with 108 on a hypothesized best case scenario*, that means Malkin only needs to score 11 points in 13 games to match him....But keep in mind, the tie goes to who has more goals, which would obviously be Ovechkin, so Geno needs to win by 1, which means he would need 12 points in 13 games to win the scoring race.
In this analysis, 12 points would guarantee Malkin the title. WIth 13 more games to go. If Ovechkin has a more human effort, like say he only got a point a game, still a pretty good rate. Just like that, under that scenario Geno only needs 4 points to win it. That shows just how far AO has to climb at this point.
So, to recap, Malkin probably needs between a range of 4 and 12 points to clinch the title, based off what Ovechkin does.
But if we know anything about how Evgeni Malkin's season has gone so far, he doesn't need anyone else to set his range. He'll likely do his thing and end up with his normal 115. And if that happens, it won't matter if Alex Ovechkin or (Hockey) Jesus himself was chasing Geno, aint no one catching him.
Bottom line is, barring injury, it's a sure bet that Malkin brings home an unprecedented 13th Art Ross Trophy to Pittsburgh in the past 21 seasons. It's an insurmountable lead.
*Of course, a player of Ovechkin's talent could conceivably do better than 21 points in his last 13 games...Still, if you wanna place a bet, I'd surely give odds that Malkin ends up above Ovie in points, if both stay healthy.