Respected female finished suppressing desire (7)
I believe the answer is:
doyenne
'respected female' is the definition.
'finished suppressing desire' is the wordplay.
'finished' becomes 'done' (both can mean completed).
'suppressing' is an insertion indicator.
'desire' becomes 'yen' (yen can mean a longing or desire).
'done' going around 'yen' is 'DOYENNE'.
(Other definitions for doyenne that I've seen before include "Yon Eden (anag.)" , "Respected female leader in a field" , "Senior female member of profession" , "Female most respected in a particular field" , "Old lady" .)