Let us admit becoming excited (10)
I believe the answer is:
stimulated
'excited' is the definition.
('stimulate' can be a synonym of 'excite')
'let us admit becoming' is the wordplay.
'becoming' indicates an anagram.
'let'+'us'+'admit'='letusadmit'
'letusadmit' with letters rearranged gives 'STIMULATED'.
(Other definitions for stimulated that I've seen before include "Created excitement" , "Provoked the senses" , "Energised" , "Aroused" .)