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Yes - absolutely - provided you meet the residency obligation.
 
You can apply up to six months before your card is expired

http://www.cic.gc.ca/english/helpcentre/answer.asp?qnum=065&top=10

As scylla said, at the day you apply for card renewal, go back 5 years, and make sure you have the required number of days. If you don't, not only would they refuse to renew your card, they would initiate revocation of your status as well.
 
Thank you! One more question:

How many days before I can get my new PR card after I renew it?

It will take 3 months to arrive assuming a simple case. If you are closer to the minimum residency days required, then it may go for secondary processing and who knows how long it will take.
 
It will take 3 months to arrive assuming a simple case. If you are closer to the minimum residency days required, then it may go for secondary processing and who knows how long it will take.

I need to leave Canada a month after I renew my PR. Do I need something or a substitute for my PR card when traveling outside Canada? Or I just need a travel document when entering Canada?
 
You can apply up to six months before your card is expired

http://www.cic.gc.ca/english/helpcentre/answer.asp?qnum=065&top=10

As scylla said, at the day you apply for card renewal, go back 5 years, and make sure you have the required number of days. If you don't, not only would they refuse to renew your card, they would initiate revocation of your status as well.

I have another question:

I am planning to travel right after my application for PR renewal. I just couldnt wait for weeks to receive it before i leave. I know that i have to apply for a Permanent Resident Travel Document. But what are the requirements I need to bring? I live with my mom and I don't pay rent just yet because my mom supports me. so i cant show them any proof of things like that. What else do i need to bring to show them that i am a permanent resident of Canada so I won't have to worry ahout going back to Canada without my PR card? do i bring my health card? Do i need to get a copy of something from the bank? A copy of my previous payslips?
 
Info about the PRTD here complete with document checklist.

https://www.canada.ca/en/immigratio...ation-permanent-resident-travel-document.html

Do not know how long you plan to travel for but be aware it can take a couple of weeks to get a PRTD sometimes longer depending where you are applying for it. If you cannot wait that long in the destination country you can return via a US land border, just cannot board a plane direct to Canada without a PRTD or a card.
 
Info about the PRTD here complete with document checklist.

https://www.canada.ca/en/immigratio...ation-permanent-resident-travel-document.html

Do not know how long you plan to travel for but be aware it can take a couple of weeks to get a PRTD sometimes longer depending where you are applying for it. If you cannot wait that long in the destination country you can return via a US land border, just cannot board a plane direct to Canada without a PRTD or a card.
Can I apply for PRTD in the Canada Visa embassy in the Philippines? I am staying in the Philippines for 4 months so i think that is enough? What documents do i need to submit when i apply for prtd? I am still a student so i dont know what i can bring.
 
Can I apply for PRTD in the Canada Visa embassy in the Philippines? I am staying in the Philippines for 4 months so i think that is enough? What documents do i need to submit when i apply for prtd? I am still a student so i dont know what i can bring.

You apply for the PR TD at the closest Visa Application Centre (VAC). There is one in Manila and one in Cebu. http://www.vfsglobal.ca/canada/Philippines/contact_us.html

Read the link posted to above, on how to apply for PR TD. 4 months is more than enough time.

Hopefully you are comfortably meeting your residency obligation of 2 years in Canada over past 5.