Yes it is. Aleve is just a brand name for Naproxen. However depending on the coating of the medication the frequency of dosing may be different.
Prescription naproxen comes as a regular tablet, an enteric coated tablet (delayed-release tablet), an extended-release (long-acting) tablet, and a suspension (liquid) to take by mouth. The extended-release tablets are usually taken once a day. The tablets, enteric coated tablets, and suspension are usually taken twice a day for arthritis. The tablets and suspension are usually taken every 8 hours for gout, and every 6 to 8 hours as needed for pain. If you are taking naproxen on a regular basis, you should take it at the same time(s) every day.
Nonprescription naproxen comes as tablet and a gelatin coated tablet to take by mouth. It is usually taken with a full glass of water every 8 to12 hours as needed. Nonprescription naproxen may be taken with food or milk to prevent nausea.
Yes, 500mgs of Aleve is the same as 500mgs of Naproxen. Aleve is simply the brand name of the medication, and naproxen is the generic name. As hippypaul said, the frequency of taking the medication may be different depending on they type of pill you are taking. You should always follow your doctor's orders for taking medication, and if not available follow the directions on the label of the medication.