Negligible little Malcolm (7)
I believe the answer is:
minimal
'negligible' is the definition.
(similar in meaning)
'little malcolm' is the wordplay.
'little' becomes 'mini'.
'malcolm' becomes 'mal' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'mini'+'mal'='MINIMAL'
Can you help me to learn more?
(Other definitions for minimal that I've seen before include "Very little" , "Of a smallest amount" , "Token" , "Very small, the least possible (7)" , "barely worth considering" .)