Sure is Dude...rags, big red rags!! Not to expensive and you can throw them away when you get them dirty if you want..I rewash mine but that's just me...don't throw anything away. If you talking solvent then just use carb cleaner of engine degreaser, spray it on and use the big red rags to wipe it off.
When I was a full-time mechanic, the last thing I did every day was to gather up all the tools I had used and take them over to the solvent washer. I tried to clean everything almost spotless. I've found most tools don't wear out from use but from dirt and grease trapped between the tool and the piece it is being used on. If you are a serious hobbiest, a small parts washer can be a worthwhile investment. I ended up buying one from Harbor Freight and think it was money well spent.
I think the trick is to keep your tools clean, as you are doing the job. I know this isn't always practical, but I try. Wipe them off as soon as you get them dirty and try to keep things organized............Helps to keep from losing stuff too.
OK, Ok ....................I'm anal...........................
Walmart carb cleaner $.84/can. Works fantastic. Red Rags are OK, but IMO they need to be washed FIRST before using them. The dye seems to limit their usefulness. I'm with Taz. Use em, abuse em ,wash em, repeat.