Minor planet, it soared extraordinarily (8)
I believe the answer is:
asteroid
'minor planet' is the definition.
(synonyms)
'it soared extraordinarily' is the wordplay.
'extraordinarily' indicates an anagram.
'it'+'soared'='itsoared'
'itsoared' anagrammed gives 'ASTEROID'.
(Other definitions for asteroid that I've seen before include "Small rocky object orbiting the sun - store aid (anag)" , "Small planet orbiting the Sun" , "Piece of rock that moves around the heavens" , "Small rock orbiting the sun" , "Bit of rock that moves around the heavens" .)