Much-sought goal (4,5)
I believe the answer is:
holy grail
(Other definitions for holy grail that I've seen before include "Legendary cup used by Jesus at Last Supper" , "Go, Hillary! (anag) -- chalice used by Jesus at the Last Supper" , "object of quest" , "Something eagerly sought" , "Chalice used by Christ at the Last Supper" .)