Yes, though you'll most probably want to process a whole twig, not just the individual leafs. Without more details about the XML it's impossible to be more specific.

Another contender would be XML::Rules. With the right handlers it can process huge files easily.

Update: I do not use XML::Twig myself. This is an example of what you could do with XML::Rules:

use strict;
use XML::Rules;

my $parser = XML::Rules->new(
    stripspaces => 7,
    rules => {
        _default => 'content',
        Book => sub {
            my ($tag,$attr) = @_;
            if (!$attr->{Title}) { return; }# no title, OK. ignore
            print "$attr->{Title} by $attr->{Author} was released $att
+r->{Released}\n";
            return;
        },
    },
);

$parser->parse(\*DATA);
# or
$parser->parsefile('path/to/the/file');
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