For the money, it's certainly worth a try. Of course, you'll need a phono stage and the right cables or adapters, which Monoprice also sells, conveniently enough. :)
Along the same lines, I'm using a Parks Audio Puffin phono stage. The model I purchased has the optional TOSLINK S/PDIF digital output, which is convenient for making needle drops, among other things. I've only bothered to record a handful of LPs that I own that are not currently available via streaming. Happy with the results, but the Puffin is about 20 times as expensive as what John has suggested. Depending on your use case, it may be worth it, though, which is why I mention it.
Hoping all is well. Cheers.
-- David