Elevation of point in orbit around article between rings (10)
I believe the answer is:
apotheosis
'elevation' is the definition.
(thesaurus)
'point in orbit around article between rings' is the wordplay.
'point in orbit' becomes 'apsis' (astronomical term).
'around' means one lot of letters goes inside another.
'article' becomes 'the' (the definite article in English).
'between' is an insertion indicator.
'rings' becomes 'oo' (two O's - O resembles a ring).
'the' going into 'oo' is 'otheo'.
'apsis' placed around 'otheo' is 'APOTHEOSIS'.
'of' acts as a link.
(Other definitions for apotheosis that I've seen before include "Given maximum promotion" , "glorification" , "Perfect example" , "Ultimate transformation" , "Highest point of development" .)