Yes, acetylcholine, a neurotransmitter in the brain and spinal cord, plays a role in pain perception: 

    Pain modulation
    Acetylcholine can modify pain perception by directly activating cholinergic receptors or by extending the action of endogenous acetylcholine. 

Pain development
Acetylcholine may be involved in the central sensitization processes that contribute to chronic pain. 
Pain treatment
Drugs that modify acetylcholine levels or target acetylcholine receptors may offer a means to treat pain and prevent it from becoming chronic. 

Acetylcholine is also involved in other functions, including:

    Regulating heart rate, blood pressure, and gut motility
    Muscle contractions
    Memory
    Motivation
    Sexual desire
    Sleep
    Learning 

Imbalances in acetylcholine levels are linked with health issues, including Alzheimer's disease, seizures, and muscle spasms