First, as #3 says, what is the application for the device?
If the TVS is a TransZorb, then yes. A TransZorb is a zener diode, but it is specially constructed to handle very high transient surge currents. That is why what looks like a 5 W diode package is rated for 600 W as a TVS. And, Both a TransZorb and a standard zener diode are better than an MOV (metal-oxice varistor).