Yes it does but beware. If you have the 360 elite then it will as it has hdmi slot in the back as standard. I have the xbox 360 premium (white) but I bought it new recently and microsoft have only recently added the HDMI slot to the back of the premium console. If you have the HDMI slot on the reverse of the console then the cable is perfect I bought one myself.
What is it about a HDMI cable that makes one better than another? These cables are metal and electrons flow. Are some electrons being choked off in the cheaper cables? I can see the requirement for gold-plated connections, and I suppose these vary in thickness, but who disconnects these cables often enough to wear this off? Do the tolerances of the pins' manufacture really vary? Does shielding quality vary? I only ask because I recently bought a Sony 350 BlueRay player for €220. Curry's then showed me a HDMI cable costing €90. Something is wrong here and it is not only Curry's silly prices. Why do reviewers of cables imply that the cable connecting a state-of-the-art HDTV and Blue Ray player makes all the difference. They can't have tried a few different cables. Seems to me to be mainly hype.