Looks like it from what we can see here. If you check out the Best Buy Canada front page you see a small red Wii Mini.
The Wii Mini definitely looks small, slightly taller than the Wiimote, comes with the usual accessories and arriving on December 7th!
There is so much more we need to know. Is it a slot loader like previous Wii's? Will it support Gamecube games? Though don't expect that since the most current Wii doesn't support it.