CONFIG_CPU_SUPPORTS_HUGEPAGES is not available for thedefaultarchitecture x86.
Result is shown for architecture mips

CONFIG_CPU_SUPPORTS_HUGEPAGES (not configurable)

configname: CONFIG_CPU_SUPPORTS_HUGEPAGES

Linux Kernel Configuration
└─>CPU_SUPPORTS_HUGEPAGES
In linux kernel since version 2.6.31 (release Date: 2009-09-09)  
depends
NOT CONFIG_32BIT or  NOT CONFIG_ARCH_PHYS_ADDR_T_64BIT
NOT CONFIG_EVA