The pick of English literature on line, finally (5)
I believe the answer is:
elite
'the pick' is the definition.
(thesaurus)
'english literature on line finally' is the wordplay.
'english' becomes 'e' (abbreviation).
'literature' becomes 'lit'.
'on' says to put letters next to each other.
'finally' suggests the final letters.
The last letter of 'line' is 'e'.
'e'+'lit'+'e'='ELITE'
'of' acts as a link.
(Other definitions for elite that I've seen before include "Selected as the best" , "Top group f" , "Chosen ones" , "Upper crust" , "Group enjoying superior status" .)