Yes, it can.
Hibernate Tools, which is now available as a part of JBoss Tools, can be used for generating JPA entities as well. In fact you need to select JPA option in Hibernate Configuration which is being used for your project.
Even better would be to start off your reverse code generation as a JPA Project. Then once the project is created switch over to the Hibernate Perspective to confirm the JPA annotations option is selected in the Hibernate Configuration settings.
Following tutorial has pictorial representation of various steps involved in creating a JPA Project in Eclipse. It then shows in the Appendix section how to edit the Hibernate Configuration as well.
http://www.javabrahman.com/j2ee/how-to-setup-a-jpa-project-with-a-data-connection-for-mysql-in-eclipse/