Yes—this can be done either with very clear real ice or with an acrylic/resin fake cube. For real ice, clarity is the main challenge: use filtered water, boil and cool it twice to reduce dissolved air, and freeze it slowly, since fast freezing makes cloudy ice. Then place the lemon in the mold as planned. For a highly polished stock-photo look, a fake acrylic cube is also plausible; after curing, the cube can be polished and buffed to smooth surfaces and soften edges.

For lighting, backlighting is especially useful because it will shine through the lemon and make it glow. Add a side light to bring out texture in the peel. The sample image also appears to be lit from above and slightly behind/left. A light tent can help control reflections on the cube. Since the subject is static, use a tripod and a longer exposure instead of needing very bright lights. Overall, aim for a clean high-key setup with careful control of reflections and a bright background.