Yes. Excess everything in your diet gets turned to fat.
The body uses a carb called glucose to power everything. All carbs are eventually broken down into glucose like molecules (except cellulose). If you aren't getting enough carbs in your diet then your liver starts making glucose from protein by a process called gluconeogensis. The excess glucose produced will then be turned into fat.
Long term high protein low carb diets will deprive your body of the nutrients it needs by converting all the nutrients into glucose.