The term 'highly regarded' can be described by a variety of words, such as ESTEEMED (8 letters), valued (6 letters), ADMIRED (7 letters), EMINENT (7 letters), and BELOVED (7 letters). These words all imply that someone or something is held in high regard, and is respected and appreciated. ESTEEMED implies respect and admiration, while valued implies that the person or thing is seen as having worth. ADMIRED implies that the person or thing is looked up to and respected, while EMINENT implies that the person or thing is well-known and respected. Lastly, BELOVED implies that the person or thing is deeply loved and cherished.