No, unfortunately the glue used to bind the book together prevents it from being recyclable. However, there are many alternative options when needing to get rid of some of those old books.
How about taking them down to your local charity shop, most will accept them if they are in fairly good condition. Alternatively,take them to your local library, doctors surgery or school.
There are internet sites such as Bookmooch that allow you to swap your unwanted books with others.
A good way to make some extra cash is to sell ypur unwanted books either on a jumble sale or online. Sites such as Amazon, and Green Metropolis provide this service.