Yes there is. Use a component called "Album List" by musicmusic. It can be found here (just scroll down a bit):
http://yuo.be/columns.php

It can only be used in columns UI or panels UI (or dock it in a panel if you are using the default UI). Just set the view mode to "by album" and clicking the entry will update your playlist with all the songs in that particular album. You can even set it to send to a specific playlist so you don't overwrite any of your current ones.

Hopefully this is what you were looking for .