yes u can use dynamic sql statements in pl/sql.check the below code..
declare
v_empno emp.empno type : &empno;
v_ename emp.ename type;
v_sal emp.sal type;
begin
select ename sal into v_ename v_sal from emp where empno v_empno;
dbms_output.put_line('name : '||v_ename||' sal is :'||v_sal);
end;
(u have to set the serveroutput environment option to on)