I have linuc VPS server.
I want to know that is it possible that i can host multiple java j2ee sites on that
By VPS do you mean Virtual Private Server?
If this is the case, yes, you can host multiple java j2ee sites. Hosting sites depends on the application server installed on the server. And any app server (at least the most commons ones) will allow you to host multiple sites.
Assuming that you have root access to you VPS, you could install glassfish and setup multiple domains on it. Take a look at this site for further information. This how to can help you understand the big piture.