Yes, EVISCERATION is a Scrabble word!

Letter values in Scrabble US: E 1, V 4, I 1, S 1, C 3, E 1, R 1, A 1, T 1, I 1, O 1, N 1.

Is it a valid word?

EVISCERATION is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

surgical removal of an organ (or the contents of an organ) from a patient
the act of removing the bowels or viscera; the act of cutting so as to cause the viscera to protrude
altering something (as a legislative act or a statement) in such a manner as to reduce its value