A simple and accurate depth estimation algorithm for an IBVS (Image-Based Visual Servoing) is presented. Specifically, this algorithm is useful for under-actuated systems such as visual-guided quadrotor UAVs (Unmanned Aerial Vehicles). Since the image of a marker changes with changing pitch and roll angles of quadrotor, it is difficult to estimate depth. The proposed algorithm compensates a shape of the marker, so that the system acquire more accurate depth information without complicated processes. Also, the roll and pitch channels are decoupled so that the IBVS algorithm can be used in an under-actuated quadrotor system.