Most of the time, yes — though not always in a way you have noticed. Around 80–90 percent of people with chronic tinnitus have measurable hearing loss when tested carefully, and a significant fraction of the remainder have so-called hidden hearing loss: normal pure-tone thresholds but damage to the synapses between hair cells and the auditory nerve. The link between hearing damage and tinnitus is the strongest one we have.
The practical implication is that a full audiogram is the single most useful investigation if you have new or worsening tinnitus. Many people are surprised to find a high-frequency dip they were unaware of, because the brain compensates for high-frequency loss for years before you notice in conversation.
This matters because if there is loss, fitting hearing aids — even mild ones — quiets the tinnitus in roughly two thirds of people. That is the most direct mechanical intervention we have. If your audiogram is genuinely flat, the model is slightly different, and treatment leans more on sound therapy and CBT.