Venerable fool definitely has it (3)

I believe the answer is:

old

'venerable' is the definition.
(similar in meaning)

'fool definitely has it' is the wordplay.
'has it' indicates a hidden word.
'OLD' can be found hidden inside 'fool definitely'.

(Other definitions for old that I've seen before include "Ancient" , "Wild clematis" , "Obsolete" , "Former; aged" , "Senescent" .)

I've seen this clue in The Mirror.

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