We address the monocular visual shape servoing problem. This pushes the challenging visual servoing problem one step further from rigid object manipulation towards deformable object manipulation. Explicitly, it implies deforming the object towards a desired shape in 3D space by robots using monocular 2D vision. We specifically concentrate on a scheme capable of controlling large isometric deformations. Two important open subproblems arise for implementing such a scheme. (P1) Since it is concerned with large deformations, perception requires tracking the deformable object's 3D shape from monocular 2D images which is a severely underconstrained problem. (P2) Since rigid robots have fewer degrees of freedom than a deformable object, the shape control becomes underactuated. We propose a template-based shape servoing scheme in which we solve these two problems. The template allows us to both infer the object's shape using an improved Shape-from-Template algorithm and steer the object's deformation by means of the robots' movements. We validate the scheme via simulations and real experiments.