Make sure your song is selected and then using the

iTunes Advanced Menu, navigate to Create AAC Version.

Make sure your song is selected and then using the
iTunes Advanced Menu, navigate to Create AAC Version.
Change extension to “.m4r”
I remove all traces of my original pre-converted songs form
iTunes by using the iTunes search tool to find them and
then press the delete key to delete them.

Now drag your new “m4r” ringtone into the iTunes

Ringtones window and your done. Your ringtone is now
ready to be synced with your iPhone.

1. Open the folder containing the 30-second AAC file you dragged
out of iTunes, then change the file extension from .m4a to
.m4r. Double-click it and it immediately gets added to iTunes'
ringtone library.
2. Finally, sync your iPhone. When it's done, you can head into the
settings and select your new ringtone.
Step4: Move Ringtones to iPhone
Select the three dots next to your phone and click Tones in the
drop-down menu. Drag the Ringtone from your desktop section
to your iPhone tunes section.
You have to sync the tone you moved to the iPhone section.
Click on iPhone icon and Select Tones > Sync Tones >
Selected Tones > and select the tone and sync with the device.