Conceive of dream, as term indicates (10)
I believe the answer is:
mastermind
'conceive' is the definition.
(thesaurus)
'of dream as term indicates' is the wordplay.
'of' says the answer is hidden in the clue.
'MASTERMIND' is hidden in the letters of 'dream as term indicates'.
(Other definitions for mastermind that I've seen before include "Criminal planner" , "Criminal genius" , "Brains" , "Brainy TV quiz" , "Person conceiving a project - TV programme" .)