Yes, it will. It'll set a PO300 code for misfires, and it may also set a code for a individual cylinder ie PO301 for cyl #1, PO302 for cyl. 2, etc. These are OBD codes and will set a check engine light per Federal Law, it HAS to turn on the light. A misfire means fuel is not being burned completely, and therefor becomes an emissions issue, which really is what OBD is all about, ensuring emissions compliance.