No. Not on its own, at least.
You will need to involve the use of gold kryptonite alongside the use of the sabre. Gold kryptonite removes all powers from a Kryptonian, permanently. When his powers are gone, Superman would be vulnerable to weapons. Thus, you could easily cleave him in half with the sabre.
Of course, this depends on the strain of gold kryptonite, as it's been seen to cause cellular degeneration and accelerated aging in one instance, and when it was used by Metallo, it only removes the powers for around 15 seconds.