The question was worded in past tense, because
Cadia has been destroyed during the 13th Black Crusade. I'm sure most people know it already, but it doesn't hurt to add a spoiler just in case.
The Eye of Terror is basically a permanent Warp Rift, a direct connection between the material world to the Immaterium.
On the other hand, the very presence of a Tyranid Hive Fleet creates a phenomenon that the Imperium scholars qualify as a Shadow in the Warp. It is said to render astropathic communications difficult (or worse, rendering them impossible), as well as preventing incoming ships to emerge from the Warp, effectively blocking them within the Immaterium. Though it seems that the Shadow doesn't prevent short distance Warp teleport (at least in Dawn of War II, since units can still teleport on the battlefield).
Considering this, does it mean having a Tyranid Hive Fleet around Cadia would be a way to "close" the Eye of Terror?