I found two ways. Using \usefield (biblatex.pdf, page 177)
First way: Redefine bibmacro{title}
The bibmacro{title} is defined in the file biblatex.def as follows:
\newbibmacro*{title}{%
\ifboolexpr{
test {\iffieldundef{title}}
and
test {\iffieldundef{subtitle}}
}
{}
{\printtext[title]{%
\printfield[titlecase]{title}%
\setunit{\subtitlepunct}%
\printfield[titlecase]{subtitle}}%
\newunit}%
\printfield{titleaddon}}
I redefine the bibmacro{title}, in the preamble, as:
\renewbibmacro*{title}{%
\ifboolexpr{
test {\iffieldundef{title}}
and
test {\iffieldundef{subtitle}}
}
{}
{\printtext{%
\printtext[titlecase]{\usefield{\uline}{title}}%
\setunit{\subtitlepunct}%
\printfield[titlecase]{subtitle}}%
\newunit}%
\printfield{titleaddon}}
The MWE:
\documentclass{article}
\begin{filecontents}{MWE.bib}
@book{key,
author = {Super, Max},
title = {An extraordinary long and meaningless example book title, and fortunately correctly wrapped},
subtitle={A short subtitle},
}
\end{filecontents}
\usepackage[normalem]{ulem}
\usepackage[backend=biber]{biblatex}
\addbibresource{MWE.bib}
\renewbibmacro*{title}{%
\ifboolexpr{
test {\iffieldundef{title}}
and
test {\iffieldundef{subtitle}}
}
{}
{\printtext{%
\printtext[titlecase]{\usefield{\uline}{title}}%
\setunit{\subtitlepunct}%
\printfield[titlecase]{subtitle}}%
\newunit}%
\printfield{titleaddon}}
\begin{document}
\nocite{*}
\printbibliography
\end{document}

EDIT
Second way: Using \DeclareFieldFormat
I found other form using \DeclareFieldFormat and it is not necessary redefine the bibmacro{title}.
The format used in the \printfield{title} is titlecase (In the definition of bibmacro{title}). Then must be redefined this format. This is important because I use \currentfield and it is defined only when used \printfield, not with \printtext.
\DeclareFieldFormat*{titlecase}{
\ifdef{\currentfield}
{\ifcurrentfield{title}
{\usefield{\uline}{\currentfield}}%
{#1}}
{#1}}
The \ifdef{\currentfield} is to avoid troubles if the format titlecase is used by a \printtext, for example.
The \ifcurrentfield{title} is to apply the format only to the title field.
Finally, if you would like remove the default emphasis in the title, it is necessary redefine the title format, used by printtext.
\DeclareFieldFormat*{title}{#1}
MWE:
\documentclass{article}
\begin{filecontents}{MWE.bib}
@book{key,
author = {Super, Max},
title = {An extraordinary long and meaningless example book title, and fortunately correctly wrapped},
subtitle={A short subtitle},
year={2004},
}
\end{filecontents}
\usepackage[normalem]{ulem}
\usepackage[backend=biber]{biblatex}
\addbibresource{MWE.bib}
\DeclareFieldFormat*{title}{#1}
\DeclareFieldFormat*{titlecase}{%
\ifdef{\currentfield}
{\ifcurrentfield{title}
{\usefield{\uline}{\currentfield}}%
{#1}}
{#1}}
\begin{document}
\nocite{*}
\printbibliography
\end{document}

LaTeXallows you typographic high quality results, should be consistent with them and ignore those more limited solutions inspired by the typewriter. It is not an answer, it's just an observation and suggestion. – Aradnix Sep 13 '14 at 20:37biblatexis not able to split a long text with a command like\uline{...}and it is possible with\emph{...},\texttt{...}etc. Butulemused out ofbiblatexis able of splitting. – skpblack Sep 14 '14 at 00:15biblatex. – skpblack Sep 14 '14 at 00:17biblatex, I think this is a known issue, but, alas, with no solution I could find. – moewe Sep 15 '14 at 14:58\texttt,\emphand\textbfcommands just choose another font in LaTeX, while\ulinedoes something quite different to get the output right. Maybe the waybiblatexprints the bibliography makes one of those methods to get the output right yield incorrect results. – moewe Sep 15 '14 at 15:10