Illusion's toll on artist (7)
I believe the answer is:
chimera
'illusion's' is the definition.
(I've seen this before)
'toll on artist' is the wordplay.
'toll' becomes 'chime' (both can mean a bell noise).
'on' says to put letters next to each other.
'artist' becomes 'ra' (Royal Academician, member of Royal Academy of Arts).
'chime'+'ra'='CHIMERA'
(Other definitions for chimera that I've seen before include "Fire-breathing female monster" , "phantom" , "Illusory achievement; mythical beast" , "Wild or impossible idea" , "Illusory goal; monster" .)