No but its evolution (Gyarados) is good
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Pokemon Diamond & Pearl: By surfing - Golduck Using Old Rod - Magikarp Using Good Rod - Magikarp and Goldeen Using Super Rod - Gyarados and Seaking Pokemon Platinum: By Surfing - Golduck and Psyduck Using Old, Good, or Super Rod - Magikarp
Magikarp will evolve into Gyarados.
Just catch a few magikarp (Old/Good rod) and show them to the man, he will give you something (a net ball iirc)
Magikarp evolves into Gyarados at level 20
Magikarp evolves at level 20.