Yes, this is what I do. Instead of thread in my long needle I use dental floss as for me this works better.
I usually use two different colors, top and bobbin. I pull the top thread through to the back exactly where the back thread it and double knot the two threads together and then bury at that knot location. The different color doesn't show once the two threads are buried together.
I use a very simple method: Double a short length of thread and thread both ends through the eye of the needle, resulting in a loop. Use it like a needle threader: stick the needle into the fabric where the thread to be buried is and bring it up a distance away (about 1" works). before you pull the needle through, poke your loose ends into the loop you created above and pull it through. Give a slight tug to the ends and snip off. Voila! The thread ends are buried, and you only have to thread the needle once.
I keep it in my sewing box for all end burying. I use a needle with a larger eye so it's easy to get both ends in at once, and I knot the loop around the needle so it doesn't pull out while I'm using it. Works on even the tiniest ends.