For strictly agricultural use, yes. But for other uses you would need to subdivide. Not an easy job! If you lease out a portion of our property San Diego County will not grant a building permit until you've legally divided the property.
Note that there are regulations governing clearing of undisturbed land for agriculture which may make the whole thing less than desirable.
It all comes down to the water. What is the well producing? What are the readings of the water test. Also the climate. What type of crops will it support? If there is no well, or it is a slow producer, it may cost you more than you like to get the productivity up.
I would advise you to check local zoning ordinances to determine if you are allowed to lease all or part of a tract of land. Here locally in the Wenatchee, Wa area, it is allowed and it is not uncommon for an orchard owner to lease out large portions of his orchard to wanna be farmers.