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Yes, YouTube videos can improve your website SEO in numerous ways.
Just to start with you have to understand that YouTube is the second largest search engine there is(after Google).
People are constantly looking for videos and doing searches. That means that every YouTube video has to have there own search engine optimization.
Optimized videos on YouTube get more views and have stronger URL. So if you have backlink to your site from YouTube video that has 5 million views that indicate that the content on your site is also valuable and that is a strong SEO signal.
On the other hand, if you have a video with only 100 views SEO signal is much smaller.
The other way how YouTube videos can improve your site ranking is embedding them into your blog.
I love this strategy because you can use other creators videos and that beneficial to not only to you but for them too.
YouTube videos on your your website page can improve your SEO rankings because it can increase the time users spend on your site.
Since User experience on the website is a strong SEO signal it can help improve your ranking. The more users spend time on your website the better. And videos not only make content more helpful but also increase time on your page.
Signals like bounce rate, on-page time, page views are signals that this website is helpful and has great content, search engines look for that.
We already know that backlinks and content optimization is important but in the future, we will see that search engines look more and more at user experience on the site.