No, hypnosis is a peaceful state of stillness, not sleep. When you sleep, your conscious mind sleeps.
In hypnosis your conscious mind is still functioning quietly in the background which is why most of those hypnotized hear and remember everything said to them during a session.
The hypnotic state is very pleasant. You feel mentally very calm, content, relaxed, focused, and yet alert. It is a form of deep mental and physical relaxation.