;May I ask why you want to do this?

In any case, the answer is yes. You need to create an explicit user for the login in the master and then DENY EXECUTE on sp_linkedservers to this user. This script illustrates:

USE master

go

CREATE LOGIN linkan WITH PASSWORD = 'ddgfd()'

CREATE USER linkan

go

DENY EXECUTE ON sp_linkedservers TO linkan

go

USE tempdb

go

EXECUTE AS LOGIN = 'linkan'

go

EXEC sp_linkedservers

go

REVERT

go

USE master

go

DROP USER linkan

DROP LOGIN linkan