not really. Both are RPGs but they are very different as RPGs go.
Oblivion was a single person party, was very non character focused and most NPCs in the game were completely unmemorable. The world was fairly generic when you get right down to it, but a large part of the appeal was the free wheeling sandbox world and the direct participation in the combat system.
KOTOR is much more character focused. The other members of your party are the stars of the show and each one is very memorable (except maybe T3M4, but at least I remember it's name). The combat in KOTOR is more abstracted than in Oblivion and has more to do with tactics and less to do with skill. Where Oblivion was an open world, KOTOR is a series of lightly scripted zones that you could take care of in any order you wished (with a few plot related exceptions). Lastly, where the dialog in Oblivion was extremely abstracted, you have more interactive dialog trees in KOTOR which leads to much richer dialog.
It really boils down to, Oblivion was more action and exploration oriented, whereas KOTOR is more character and plot oriented. If you have never played a game like that before, this would be a very good introduction to that style, just don't expect a lot of exciting and challenging combat. The combat is fun, but not as action oriented as Oblivion.