Wise poet - Homer's neighbour (7)
I believe the answer is:
learned
'wise' is the definition.
(I've seen this before)
'poet homer's neighbour' is the wordplay.
'poet' becomes 'lear' (poet Edward Lear).
'homer's neighbour' becomes 'ned' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'lear'+'ned'='LEARNED'
Can you help me to learn more?
(Other definitions for learned that I've seen before include "Highbrow" , "Erudite, knowledgeable" , "Erudite - academic" , "Studied" , "Came to know" .)