Yes, it will be used to try to detect the Higgs Boson, but it will also be used to detect other things as well, including the graviton. Interesting to note, Hawkings has a standing bet that the Higgs Boson, which is a predicted particle that explains why matter has mass (I think), will not be discovered by the LHC. But other unexpected things will be discovered.
I personally doubt they will find a particle responsible for gravitation. But I do think we will have a better understanding.