Singer Simon sent back Bob's 2016 prize (5)
I believe the answer is:
nobel
'bob's 2016 prize' is the definition.
(Bob Dylan won the 2016 Nobel Prize for Literature)
'singer simon sent back' is the wordplay.
'singer simon' becomes 'Le Bon' (Simon Le Bon of Duran Duran).
'sent back' is a reversal indicator.
'lebon' reversed gives 'NOBEL'.
(Other definitions for nobel that I've seen before include "-- Peace Prize" , "Alfred --, Swedish founder of international prizes" , "Giver of many prizes" , "Prize-endowing Swedish chemist" , "6 24 113 [SCAN-DIN-AVIAN] chemist" .)