sure there is, even if it is a formatted drive, please remember that not all %100 of data could be recovered but the percentage is high.
Davory is one of the better and cheaper software out there for this purpose.
Please make sure you don't install any thing on the drive where you want to recover the data from. get a new hard drive and install the operating system and then connect the old hard drive to system and recover the data like that.
http://www.davory.com/davory/
cheers