Short answer
Yes, in its own sense. Islam calls them awliya (friends of Allah): believers with taqwa whom Allah loves, and Sunni creed affirms that Allah may honour them with karamat (wonders). But there is no canonisation, no wali is sinless or equal to a prophet, and worship and dua belong to Allah alone.
Sunni creed affirms the awliya and their karamat. Al-Tahawi writes that no wali reaches the rank of any prophet and that we believe in the authentically reported wonders of the awliya. Every God-fearing believer has a share of wilayah (closeness to Allah).
The four schools agree on this.
Explanation
The Quran defines them: "Unquestionably, [for] the allies of Allah there will be no fear concerning them, nor will they grieve: those who believed and were fearing Allah" (10:62-63). So a wali is not a special caste; it is any believer with sincere faith and taqwa, and the more of these, the closer. In a hadith qudsi Allah says: whoever shows enmity to a wali of Mine, I declare war on him.
Karamat are wonders Allah grants a righteous person, not by his own power. The Quran gives examples: Maryam found provision with her whenever Zakariya entered her prayer chamber (3:37), and the youths of the cave slept for centuries. Sunni creed affirms such wonders when authentically reported, while warning that wonders alone prove nothing. A person who neglects prayer or breaks the Shariah is not a wali, however strange the things he does.
How is this different from saints in Christianity? There is no official process that declares someone a saint, and no one can be called a wali with certainty except by revelation. No wali is protected from sin, and none can be worshipped or asked for what only Allah gives. Scholars differ on some related practices, such as tawassul through the righteous; see is tawassul allowed? and dua at the grave of a saint.
The path to wilayah is open to you: do the obligations, then add voluntary worship. See how can I get closer to Allah?
The evidence
Quran, Surah Yunus 10:62-63
أَلَآ إِنَّ أَوْلِيَآءَ ٱللَّهِ لَا خَوْفٌ عَلَيْهِمْ وَلَا هُمْ يَحْزَنُونَ ﴿٦٢﴾ ٱلَّذِينَ ءَامَنُوا۟ وَكَانُوا۟ يَتَّقُونَ ﴿٦٣﴾
Unquestionably, [for] the allies of Allah there will be no fear concerning them, nor will they grieve Those who believed and were fearing Allah
Defines the awliya as believers with taqwa.
Quran, Surah Aal-i-Imraan 3:37
فَتَقَبَّلَهَا رَبُّهَا بِقَبُولٍ حَسَنٍۢ وَأَنۢبَتَهَا نَبَاتًا حَسَنًۭا وَكَفَّلَهَا زَكَرِيَّا ۖ كُلَّمَا دَخَلَ عَلَيْهَا زَكَرِيَّا ٱلْمِحْرَابَ وَجَدَ عِندَهَا رِزْقًۭا ۖ قَالَ يَٰمَرْيَمُ أَنَّىٰ لَكِ هَٰذَا ۖ قَالَتْ هُوَ مِنْ عِندِ ٱللَّهِ ۖ إِنَّ ٱللَّهَ يَرْزُقُ مَن يَشَآءُ بِغَيْرِ حِسَابٍ ﴿٣٧﴾
So her Lord accepted her with good acceptance and caused her to grow in a good manner and put her in the care of Zechariah. Every time Zechariah entered upon her in the prayer chamber, he found with her provision. He said, "O Mary, from where is this [coming] to you?" She said, "It is from Allah. Indeed, Allah provides for whom He wills without account."
An example of a karamah given to a righteous person who was not a prophet.
Sahih al-Bukhari 6502
Sahih... مَنْ عَادَى لِي وَلِيًّا فَقَدْ آذَنْتُهُ بِالْحَرْبِ ...
"Whoever shows enmity to a wali of Mine, I have declared war on him."
Shows the high rank of Allah's friends.
Where the ruling is recorded
- al-Aqida al-Tahawiyya, Section on the awliya and their karamat. States that no wali is above a prophet and affirms their authentically reported wonders.
- al-Aqa'id al-Nasafiyya with Sharh al-Taftazani, Section on the karamat of the awliya. Affirms that the wonders of the awliya are true.
Checked by our team. For a more accurate answer to your own situation, consult a scholar. Quran translation by Sahih International. Hadith Arabic from the standard editions of the six books and the Muwatta, with gradings as recorded there; the English is our own rendering. Spotted a mistake? Tell us.