Yes, the apes that became us stopped evolving about 500,000 years ago, if they hadn't we would likely be extinct. Drastic enviormental changes are quite a hill to climb if you are a naked ape walking around trying to feed hungry kids who only become fully functional after a score of years. As well, the apes that became us were too few in tribal numbers to continue in time aided only by the processes of physical natural selection.

I lied. Our biological evolution did stop.
But a new improved form of Evolution kicked in, this time with a capital E.