12 AWG is your wire, and it's not just a suggestion - the NEC tables literally peg it as the minimum for 20 amps. The reason people get confused is that bigger wire (10 AWG) will *also* work, which makes folks think "well maybe I should just go bigger to be safe." Thing is, you're already safe. 12 AWG handles 20 amps just fine, and oversizing gets expensive for no real benefit, plus it's bulkier to work with in your conduit.
The one thing that might trip you up: make sure your breaker is actually a 20-amp and not something else. I've seen workshops where someone ran what they thought was a new circuit only to find out the breaker was labeled different or there was already something tied into that same line. Double-check your panel before you start pulling wire. Also, if you're running a longer distance to your workshop (like more than 100 feet or so from the panel), voltage drop becomes a consideration, but for a typical setup you're fine with 12 AWG. Just make sure you're using the right insulation type for your install - THHN, NM cable, whatever your local code expects - and you're golden.