Yes, you can use it like that.
Some examples:
He is a pacifying man.
=> He is a man who pacifies.
This is similar to:
He has a calming voice.
=> He has a voice which calms others.
He is an interesting person.
=> He is a person who interests me/people.
However, there are other words that are equally correct, but have a different meaning. For example:
He is a pacified man.
=> He is a man who has been pacified (by someone else).
He has a calm voice.
=> He has a voice which is calm.
He is an interested person.
=> He is a person who is interested in me/people.
In short, "a pacifying person" is correct, as long as you're talking about a person who pacifies others, and not a person who is pacified by someone else.