The most common and most likely answer to this crossword clue is the 10 letter word IMPRESSIVE
I've seen this crossword clue in The Times
I
M
P
R
E
S
S
I
V
E
More clues leading to the result IMPRESSIVE
- The writer's twice penning papers of merit
- Noteworthy setter’s given gift-wrapped volume
- Marvellous monkey revises, having failed
- Awesome VIP remiss about direction
- What a journalist might say I have is telling!
- Setter’s following — one million! The papers: “Magnificent!”
- Mean child who’s naughty and overaggressive? Not half!
Buddy explains!

The straight part
We know that "of merit" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case of merit = impressive.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 IMPRESSIVE mean?
IMPRESSIVE adjective- Making, or tending to make, a positive impression; having power to impress
- Capable of being impressed.
- Appealing.