Yes: PostgreSQL stores images in a bytea column, as large objects, or as a path or URL to a file kept elsewhere.
On 1,000 incompressible 300 KB images, bytea used 4% extra space and large objects 33% extra.
Reads are fast; the cost is backups: a pg_dump of the bytea table took 28.7 seconds versus 0.09 seconds for a URL table.
Deleting a row does not delete its large object, so the space is never freed unless you unlink it.
Use bytea under about 1 MB and low traffic; use object storage plus a URL for big or popular images.