Is it possible to have tabs in Finder?

Update: As shown in File Menu and being consistent with the rest of the macOS shortcuts, command+T will open a new tab. Tabbed Finder was introduced in OS X Mavericks in 2013.

With the native Finder app that comes with OS X is not possible to have tabs.
If you really need them you can use some Finder replacement app, like TotalFinder or PathFinder (both not free).

TotalFinder "brings tabs to your native Finder". It's commercial software, however. There are some other Finder replacements as well.

Mavericks (MacOS X 10.9) brings us native tabs in the Finder (finally).

A free alternative for OS X 10.6.8 to 10.8.2 is also XtraFinder, which supports Tabs as well.

it was already mentioned but PathFinder is an incredible app. Plus there is a mac bundle site with it on discount right now. MacPromo Bundle