Unpublished server

Is it possible to setup my web server such that only certain sources can access and the public from internet has no access? i am thinking that we could just not publish our web server URL/IP to our upstream public DNS. And we give the static IP of our web server to the authorized sources to access. Of then, we will have to turn on firewall rules to allow only those sources in to our web server network. Is this thought feasible? thanks