Figure who's dashing round, pursuing the lady (4)
I believe the answer is:
hero
'figure who's dashing' is the definition.
'round pursuing the lady' is the wordplay.
'round' becomes 'o' (round can mean a round object).
'pursuing' says to put letters next to each other.
'the lady' becomes 'her' (her refers to a woman).
'o' put after 'her' is 'HERO'.
(Other definitions for hero that I've seen before include "Exceptionally courageous person" , "One much admired for courage" , "Leander's lover, who committed suicide when he drowned" , "Main protagonist" , "Valiant man" .)