No.
An ArrayList can be empty (or with nulls as items) an not be null. It would be considered empty. You can check for am empty ArrayList with:
ArrayList arrList = new ArrayList();
if(arrList.isEmpty())
{
// Do something with the empty list here.
}
Or if you want to create a method that checks for an ArrayList with only nulls:
public static Boolean ContainsAllNulls(ArrayList arrList)
{
if(arrList != null)
{
for(object a : arrList)
if(a != null) return false;
}
return true;
}