The answer to this is apparently yes. The tale type ATU 1137 is named "The Blinded Ogre," with a subtitle, "Polyphemus, Tepegöz." The similarity is almost certainly not due to a literary diffusion. Rather, it appears that both expressions in literature draw upon a folktale type that is extremely widespread and shares a remote common ancestor.

In a recent study, Julien d’Huy, "Polyphemus: A Palaeolithic Tale?" (2015), uses phylogenetic software to analyze 56 variants he identifies in Europe and North America. His method draws on tools used in genetic analysis. It is controversial and not universally accepted, so his conclusion that ATU 1137 can be traced to a Paleolithic ancestor must be approached with caution (although I find his work convincing).

That said, two things are worth noting in reference to your question: yes, Polyphemus, from Homer's Odyssey, and Tepegöz, from the epic of the Oghuz Turks, are related, thanks to a folkloric common ancestor; and secondly, the story that they express is extremely old and widespread.

We cannot accept the idea that the texts are coincidentally similar because the tale type has been collected over much of Europe and the Middle East (if not North America!). We also cannot accept the idea that this is literary diffusion: there is no likely mechanism for this to have occurred, and such an explanation is not needed because the bedrock oral traditions of both cultures likely had this story before the variants of the folktale were recorded in literature.

edited to give background to Polyphemus and Tepegöz.