Yes, you can use Google adsense.
Just sign up for an account, verify that you own the website by inserting a meta tag. They will look at your website and if they approve then you can start placing adverts and earning money in under 24hours. Putting the adverts into a website is really easy, they give you a block of javascript code to paste in where you want the advert to appear.
Do not expect to get rich quick though you only earn 1penny per 1000 page views and maybe 10 -20pence for every advert a visitor clicks on. (Google only pays out when you reach £60)
However: You & your website must also abide by some rules.
1. There must be NO pornography, NO hacking or cracking information and NO links to pirated material like videos, MP3s or Torrents. (BT also has similiar rules and can close your web hosting account without warning & no refund)
2. DO NOT CLICK ON YOUR OWN ADVERTS - Google is not stupid
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