Yes. The book of Leviticus (25:10) describes the concept of a Jubilee year as occurring every 50th year. During the Jubilee year, slaves and prisoners were granted their freedom, and debts were forgiven to reflect God’s compassion and mercy.
In the Catholic Church, the tradition of a Jubilee (or Holy) Year dates to 1300, when Pope Boniface VIII convoked a holy year. Since then 30 jubilees have generally been celebrated every 25 or 50 years, with extraordinary jubilees held to highlight a theme, such as the Jubilee Year of Mercy in 2016.
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