Not Updated For Current Season
The masteries shown here are not yet updated for the current season, the guide author needs to set up the new masteries. As such, they will be different than the masteries you see in-game.
I have played Shen for a long time now, andafter the boost of Warmogs, I find this build to be very good.
I find the rune and masteries to be self-explenatory, with the exception of the AS marks and dropping the dodging mastery. I have those marks to keep me a dangeorus target, so I won't be ignored in team battles. I skip the dodging masteries because Shen's passive, Ki-Strike's cooldown is reduced when hit, so i prefer to have a higher defence ratio.
I start out with a doreans shield so I can be in the lane as long as possible.
I always use Merc Threads, but ninja tabi is a decent choice aswell. I take Heart of gold early for the extra armor and gold.
Now it's time for warmogs armor. I always prefer to get it early, so I gen max the stacks ASAP. When you get FoN, you will have a insane high health regen, and the magic resistance make you very hard to take down. Randuins is almost a must to every tank (at least for me xD). It gives all a tank need, and the active is just awesome in teamfights, to rescue someone and to gank. The rest of the items is situational, but i tend to go a sunfire cape, to add some extra dmg and increase the fear factor.
I hope you give this build a shot and rate it whatever you mean it deserve. But if you rate, please leave a comment, so I can improve. If you like this build, i will make improvements in the design and add a tactics section.