What do you mean as a wake up button? Are you referring to the alarm function? If so (although I haven't used the alarm on my Note 2014, but I assume it's the same as on my S3), when the alarm goes off you have to swipe the screen to the side to turn it off.
Or do you mean to wake up the tablet from hibernation? If so, then yes, that is the normal way to wake the device up and that will take you to the lockscreen. (You could also tap the power button, I suppose, and that would do the same thing.) Not sure why you would want to turn this off though...I doubt that you can anyway.