Yes, there is. The entire ODBC object is stored in the Registry. You just have to create some Registry settings.
I'm assuming if you're still using ODBC, then you're stuck with Microsoft Access. Here are some example settings for Access. If your provider is different, let us know and we'll help with that, too.
Say your ODBC Connection name is MyODBC for these examples.
Section: HKEY_LOCAL_MACHINE\SOFTWARE\ODBC\ODBC.INI\ODBC Data Sources
Key: "MyODBC"
Value: "Microsoft Access Driver (*.mdb)"
Section: HKEY_LOCAL_MACHINE\SOFTWARE\ODBC\ODBC.INI\MyODBC
Key: "FIL"
Value: "MS Access;"
Section: HKEY_LOCAL_MACHINE\SOFTWARE\ODBC\ODBC.INI\MyODBC
Key: "Driver"
Value: "$SYSDIR\odbcjt32.dll"
Section: HKEY_LOCAL_MACHINE\SOFTWARE\ODBC\ODBC.INI\MyODBC
Key: "Description"
Value: "Description you'd like your users to see in Control Panel"
Section: HKEY_LOCAL_MACHINE\SOFTWARE\ODBC\ODBC.INI\MyODBC
Key: "UID"
Value: The Access UserName if any. This is optional.
Section: HKEY_LOCAL_MACHINE\SOFTWARE\ODBC\ODBC.INI\MyODBC
Key: "DBQ"
Value: The installation directory/YourDB.mdb
Section: HKEY_LOCAL_MACHINE\SOFTWARE\ODBC\ODBC.INI\MyODBC
Key: "SafeTransactions"
Value: "00000000"
Section: HKEY_LOCAL_MACHINE\SOFTWARE\ODBC\ODBC.INI\MyODBC
Key: "DriverID"
Value: "00000019"
Section: HKEY_LOCAL_MACHINE\SOFTWARE\ODBC\ODBC.INI\MyODBC\Engines\Jet
Key: "Threads"
Value: "00000003"
Section: HKEY_LOCAL_MACHINE\SOFTWARE\ODBC\ODBC.INI\MyODBC\Engines\Jet
Key: "ImplicitCommitSync"
Value: ""
Section: HKEY_LOCAL_MACHINE\SOFTWARE\ODBC\ODBC.INI\MyODBC\Engines\Jet
Key: "UserCommitSync"
Value: "Yes"
Section: HKEY_LOCAL_MACHINE\SOFTWARE\ODBC\ODBC.INI\MyODBC\Engines\Jet
Key: "PageTimeout"
Value: "00000005"
Section: HKEY_LOCAL_MACHINE\SOFTWARE\ODBC\ODBC.INI\MyODBC\Engines\Jet
Key: "MaxBufferSize"
Value: "00000800"
Of course, which installer you use will determine exactly how these are created.