Yes, but not just one hell, I think that there are five. Someone can correct me if I am wrong. I don't study it that much - I'm not too interested in going there - I believe that there are five different hell realms in Buddhism, and then there is the human realm and the animal realm, which live alongside each other. Then I think that there are 25 or 26 heaven realms, according to what is taught in the scriptures. Now as to the hell realms, they are as bad as anything you can imagine or anything that is described in Christianity or Judaism, burning hells, cold hell, broken glass, people killing you, people cutting you up every hour - you survive and then you get cut up again an hour later. So Buddhism does actually teach that there are hell realms. They are very unpleasant places to go, as you can imagine.
Now, the way to avoid going there, this Buddhism also teaches - the way to avoid going there. As a very minimum, Buddhism teaches that you will be reborn a human or higher if you keep the basic Five Precepts in Buddhism. We don't actually teach the Five Precepts directly, we teach what is below the precepts, the development of a compassionate intention behind all of your actions, speech and thoughts. The compassionate intention leads a person not to kill, it leads a person not to steal, it leads a person not to use their speech in unkind ways, it leads a person not to have sexual misconduct and it leads a person to stay away from intoxicants that confuse the mind. These are the Five Precepts. Buddhism teaches that we try to avoid doing these five things in order to avoid the hell realms. If you develop the compassionate intention you will automatically satisfy what Buddhism says is basically the minimum requirement of being reborn at least a human and staying out of the hell realms.
So that is something to consider. In a sense it is not all that much different to what Judaism or Christian teachings offer - that being a good kind person will take you to a better destination in the future. If you are basically an evil person, bad person, killing, stealing and so on, then you are more likely to go down to a lower realm in your next life, either to the hell realms, or to the animal realms.