Sense cube squeezes in precisely (8)
I believe the answer is:
eyesight
'sense' is the definition.
(sight is a sense)
'cube squeezes in precisely' is the wordplay.
'cube' becomes 'eight' (8 is a cube number).
'squeezes in' indicates putting letters inside (inserted letters squeeze into the word).
'precisely' becomes 'yes' (both can be used to express agreement).
'eight' enclosing 'yes' is 'EYESIGHT'.
(Other definitions for eyesight that I've seen before include "Showing sense" , "Ability to see" , "What's needed to see" , "View" , "Perceptive faculty" .)