Yes, it is. And as one who has studied Latin and has taught Greek, I'll try to provide a little background.
The Greek word is transliterated, ouranos, and is pronounced, "oo-rah-NOS." The word means, "heaven" or "sky."
"Uranus" is a Latinized spelling of the Greek word. A Latin pronunciation would be "oo-RAH-nus."
In neither language would there be a "Y" sound at the start.