There sure is! I use Ad Block Plus and Ublock Origin. Origin is really nice because it allows you to click the top icon in the browser and then select elements it could have missed. It usually never misses any, but some sites have clever ways of disguising advertisments. This works wonders! 🙂
Oh you're still talking about for the phone browser, my mistake, I should have assumed. 😅 I don't believe Chrome for Android supports the installation of extensions. I think they have some settings internally to control some ads though.