A laminated shingle has a rendered shadow design when placed with other similar shingles on a roof deck. The laminated shingle includes an overlay member and an underlay member fixedly attached to each other. The overlay member includes an upper or headlap portion and a lower or exposed butt portion with one or more tabs separated by cutouts. The overlay member is also coated with a layer of relatively dark granules to form horizontally-oriented overlay shading areas on the upper and lower edges of the tabs. The underlay member is coated with a layer of relatively dark granules to form vertically and horizontally-oriented underlay shading areas. In one embodiment, one or both vertical edges of each tab are generally parallel to the vertically-oriented longitudinal axis of the vertically-oriented shading area to expose a portion of the shading area.