Yes, the game can be played in Italian, as well as French, German, Spanish, Polish and, of course, English.
You change the language in-game by selecting Options, then Gameplay Options and then selecting the appropriate language. A restart is required for this change to take effect.
We are adding in an option to launch the game in your chosen language from Steam.
Most of the in-game text was translated using a professional translation company, but some late additions like the Tutorials are only partially translated (using translation software). We will be updating/completing these translations as soon as possible.