Honour the man as King of the Fairies (6)
I believe the answer is:
oberon
'king of the fairies' is the definition.
(I've seen this before)
'honour the man' is the wordplay.
'honour' becomes 'OBE' (Order of the British Empire award).
'the man' becomes 'ron' (short for Ronald).
'obe'+'ron'='OBERON'
'as' is the link.
(Other definitions for oberon that I've seen before include "charming king" , "Fairy king (AMND)" , "Fairy king - no bore (anag)" , "Borneo (anag)" , "King of the fairies, husband of Titania" .)