Yes, it can help reduce dark circles to some degree as the moisturizer can clean the skin of ocular region and has an effect of elimination of toxicant and moisture and nourishment, hence helping reduce dark circles. As a matter of fact, there are many other methods helping reducing dark circles. You can pour the boiling water into the washbasin for steaming your face for two or three minutes, and then apply chilly compress onto the eyes. Massage has an effect of relieving dark circles, too. Besides, you should balance your diets and eat more fruits with vitamin C and do appropriate aerobic exercises to promote blood circulation, in this way, it helps reduce the chance of the formation of black circles. Also, sufficient sleep is necessary.