Hide Theseus and Ariadne, ultimately, above minotaur's home (7)
I believe the answer is:
secrete
'hide' is the definition.
(I've seen this before)
'theseus and ariadne ultimately above minotaur's home' is the wordplay.
'theseus' becomes 's' (I can't explain this - if you can you should give a lot more credence to this answer).
'and' says to put letters next to each other.
'ultimately' says to take the final letters.
'above' says to put letters next to each other.
'minotaur's home' becomes 'crete' (the minotaur of Greek myth lived on Crete).
The final letter of 'ariadne' is 'e'.
's'+'e'+'crete'='SECRETE'
(Other definitions for secrete that I've seen before include "Hide - discharge" , "Form substance for use within body, as liver does bile" , "Hide away" , "Hide or conceal an object" , "harbour" .)