You can use the eval command for this. I would recommend against this though, because there's a lot of pitfalls using this approach. Debugging is hard(er), it implies some security risks (bad content in the DB gets executed, uh oh).
See (blogpost by a random person) Eval is Evil for instance. Google for Eval is Evil, and you'll find a lot of examples why you should find another solution.
Addition: Another good article with some references to exploits is this blogpost. Refers to past vBulletin and phpMyAdmin exploits which were caused by improper Eval usage.