Pancake made by sailor after panic (8)
I believe the answer is:
flapjack
'pancake' is the definition.
('flapjack' can be a synonym of 'pancake')
'sailor after panic' is the wordplay.
'sailor' becomes 'jack' (I've seen this before).
'after' says to put letters next to each other.
'panic' becomes 'flap' (I've seen this before).
'jack' put after 'flap' is 'FLAPJACK'.
'made by' acts as a link.
(Other definitions for flapjack that I've seen before include "American pancake" , "Biscuit made with oats, syrup and butter" , "It's sweet" , "American twenty four Ac" , "One must chew over that" .)