Yes, you can! If eligible for monetization, you may be able to place pre-roll, mid-roll, and/or overlay/display ads on your content.
Ensure you're following all of YouTube's Community Guidelines. If your content does not abide by these guidelines, it may be subject to policy review before it is approved for live streaming and/or affect your ability to monetize live events.
Prior to the live event starting, you must set up an event on the Live Events page. Here, you can select that you would like to monetize with ads and start streaming!