No.
Of the Ability Stats, Will represents raw magical energy, as well as resistance to magical attacks, concentration and thinking capacity.
Magical Attack[]
Along with adding 1/2 Level to attack damage, you also add your Will score to most (but not all) magic attacks. A higher Will score means more damage when you hit.
In addition, along with adding 1/2 Level to your To-Hit magical attack rolls, you also add your Will score. A higher Will score means a greater potential to hit.
Arcana[]
Will score is added to Arcana skill check rolls.