Happy to return ring on greeting nobleman (7)
I believe the answer is:
hidalgo
'nobleman' is the definition.
(Spanish term for a gentleman)
'happy to return ring on greeting' is the wordplay.
'happy' becomes 'glad' (similar in meaning).
'to return' shows that the letters should be reversed in order.
'ring' becomes 'o' (letter resembling a ring).
'on' is a charade indicator (letters next to each other).
'greeting' becomes 'hi' (hi is a kind of greeting).
'glad' in reverse letter order is 'dalg'.
'dalg'+'o'='dalgo'
'dalgo' put after 'hi' is 'HIDALGO'.
(Other definitions for hidalgo that I've seen before include "Spanish fellow" , "Spanish gentleman" , "Grandee" , "Spanish nobleman" , "foreign gentleman" .)