Generally, no. A VGA output is in the RGB colorspace, whereas component outputs and inputs are normally in the YPbPr colorspace. That being said, if your TV has an option to change to RGB mode, you can set that and it’ll work. Otherwise, you’ll need a powered transcoder like this one. (Disclaimer: I’ve never used that particular one, and have no idea whether it’s good quality or not. It’s just the first one that came up when I googled.)
[Edit: Most HDTVs have a VGA input for just such an occasion Are you sure yours doesn’t?]