Prizegiver putting book in Christmas wrapping (5)
I believe the answer is:
nobel
'prizegiver' is the definition.
(as in the Nobel Prizes)
'book in christmas wrapping' is the wordplay.
'book in' becomes 'b' (abbreviation for book. I am not sure about the 'in' bit.).
'christmas' becomes 'noel' (synonyms).
'wrapping' means one lot of letters goes inside another.
'b' going into 'noel' is 'NOBEL'.
'putting' acts as a link.
(Other definitions for nobel that I've seen before include "Giver of many prizes" , "Founder of many prizes" , "Swedish philanthropist and inventor of dynamite" , "Swedish prize-giver" , "Prize title" .)