Partially. Not only has it failed to eradicate, but it has failed to make substantial decreases in either demand or supply over the course of the last 30 years. Worse, the unintended consequences of prohibition have spawned lucrative organized criminal groups, both in Canada and across the world, have contributed to social decay in cities and towns across the country, and have contributed to death, disease, and the destruction of our social fabric.
So yes, it's a failed policy, not just because it's ineffective at reaching its goals, but because of the negative unintended consequences that it inevitably has.