Verse of hymn shortened in RE (5)
I believe the answer is:
rhyme
'verse' is the definition.
('rhyme' can be a synonym of 'verse')
'hymn shortened in re' is the wordplay.
'shortened' means to remove the last letter.
'in' is an insertion indicator.
'hymn' with its final letter taken away is 'hym'.
'hym' placed within 're' is 'RHYME'.
'of' is the link.
(Other definitions for rhyme that I've seen before include "something read" , "word pattern" , "Word with the same final sound" , "Bit of poetry" , "Box and cox, for example" .)