Macho, nevertheless an honoured companion (5)
I believe the answer is:
butch
'macho' is the definition.
(synonyms)
'nevertheless an honoured companion' is the wordplay.
'nevertheless' becomes 'but' (I've seen this in other clues).
'an honoured companion' becomes 'CH' (Companion of Honour).
'but'+'ch'='BUTCH'
(Other definitions for butch that I've seen before include "Markedly masculine" , "Aggressively masculine" , "Acting as a male (colloq.)" , "Tough" , "Macho" .)