Yes, VOCALIZATION is a Scrabble word!

Letter values in Scrabble US: V 4, O 1, C 3, A 1, L 1, I 1, Z 10, A 1, T 1, I 1, O 1, N 1.

Is it a valid word?

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

the sound made by the vibration of vocal folds modified by the resonance of the vocal tract
the use of uttered sounds for auditory communication

Not playable in Scrabble US: VOCALISATION.