No, it very much will not!
SQL injection prevention is something that needs to happen in the PHP code itself; the PHP filter won't alter your PHP, so it can't add protection to your code.
I'd be very surprised if there's anything out there that can auto-magically take an arbitrary PHP script and save it from SQL injection. In factI'd be very surprised if there's anything out there that can auto-magically take an arbitrary PHP script and save it from SQL injection. In fact, if you ever see anything that claims to do that I'd go so far as to say "avoid it" it's lying.
Shows what I know :)
As per the comments, ModSecurity is an option if you ever see anything that claims to do that I'd go so far aswant to say "avoid it" - it's lyingcontrol this at the web server level.