Cryptic crossword clue
Celebrate return of prize 5

The most common and most likely answer to this crossword clue is the 5 letter word REVEL

I've seen this crossword clue in Financial Times
R
E
V
E
L

Buddy explains!

The straight part
We know that "Celebrate" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case celebrate = revel.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does REVEL mean?

REVEL noun
  1. An instance of merrymaking; a celebration.
  2. A kind of dance.
  3. A wake for the dead.
REVEL verb
  1. To make merry; to have a happy, lively time.
  2. To take delight (in something).
REVEL noun
  1. The outer side of a window or door frame; the jamb.
  2. A revelation; an uncovering of what was hidden.
  3. (obsolete in the US) The side of an opening for a window, doorway, or the like, between the door frame or window frame and the outer surface of the wall; or, where the opening is not filled with a door, etc., the whole thickness of the wall; the jamb.
REVEL verb
  1. To draw back; to retract.

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