It certainly is. In the United States, one of the most famous cookbooks of all time is Julia Child's Mastering the Art of French Cooking.
One of the meanings of the word "art" in one dictionary is:
"A skill that is attained by study, practice, or observation."
"Art" has another meaning: "The conscious use of the imagination in the production of objects intended to be contemplated or appreciated as beautiful, as in the arrangement of forms, sounds, or words." Cooking doesn't really fit that definition. In fine cooking, food is arranged on the plate to look nice. This is called "presentation." But I don't think you could call it art.
It isn't really cooking, but I think we have to mention the art of Guiseppi Arcimboldo, who painted amazing pieces of art in which the faces of people were created by arrangements of fruits and vegetables. This link shows an example: