Laud former destiny's return (5)
I believe the answer is:
extol
'laud' is the definition.
(I know that laud can be written as extol)
'former destiny's return' is the wordplay.
'former' becomes 'ex' (prefix meaning former or onetime).
'destiny' becomes 'lot' (I've seen this before).
'return' is a reversal indicator.
'lot' reversed gives 'tol'.
'ex'+'tol'='EXTOL'
(Other definitions for extol that I've seen before include "Speak well of" , "'Praise, glorify (5)'" , "Acclaim" , "Pay tribute to" , "Highly rate" .)