Yes, you can, and it seems to work well (at least in 1.35).
Look at this example:
http://www.boost.org/doc/libs/1_35_0/doc/html/boost_asio/tutorial/tuttimer4.html

Date: Wed, 7 May 2008 16:56:30 -0700
From: sharadmittal@yahoo.com
To: boost-users@lists.boost.org
Subject: [Boost-users] asio::deadline_timer irregular behavior after async_wait

Can asio::deadline_timer be "reused" after its original wait has been completed? I am seeing irregular behaviour around resetting already expired timers - sometimes they fail to function. I am resetting the timer by using expires_from_now method. (Boost 1.34.1 with asio 0.3.9)

Thanks,
Sharad

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