Pleasure is fantastic, possibly embracing love (12)
I believe the answer is:
satisfaction
'pleasure' is the definition.
(thesaurus)
'is fantastic possibly embracing love' is the wordplay.
'possibly' indicates an anagram.
'embracing' means one lot of letters goes inside another.
'love' becomes 'o' (In tennis, 'love' means 'zero').
'is'+'fantastic'='isfantastic'
'isfantastic' is an anagram of 'satisfactin'.
'satisfactin' placed around 'o' is 'SATISFACTION'.
(Other definitions for satisfaction that I've seen before include "I can't get no - (Rolling Stones)" , "Gratification" , "Contentment; reparation" , "Fulfilment; compensation" , "Pleasure" .)