Tragic King Edward is wise (7)
I believe the answer is:
learned
'wise' is the definition.
(I've seen this before)
'tragic king edward' is the wordplay.
'tragic king' becomes 'lear' (I've seen this before).
'edward' becomes 'ned'.
'lear'+'ned'='LEARNED'
'is' is the link.
(Other definitions for learned that I've seen before include "Knowledgeable - scholarly" , "a word defining friend from Chambers?" , "Found out; educated" , "Wise, educated" , "Gained understanding" .)