If you mean like a licenced engineer, a PE or something, then sure, a degree is required. But if you mean someone in the computer industry, as the word is usually used in these parts? A degree is a substitute for a few years of experience, If you can learn the Material in question.
To pull my personal experience in college was frustrating because I didn't feel like I had much control over what I wanted to learn because college had their idea of a "liberal education" (which didn't match up with mine) and in a modern job market I had little choice but to attend.