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I successfully defended my master's thesis last December.
I had 18/20 and it went well. However, my adviser invited me to carry out research in the area, which I accepted.

When I was writing the first paper, I noticed a big error in the data analysis. This does not affect the conclusions and the values of the estimates are very similar (with and without the error) the question is what do I do now? I'm afraid to tell my advisor and they cancel my master's degree. What do you think? My ethics does not allow me to write the paper again with the error, but if correct my advisor will find ..

Any suggestions? I'm sure no one will notice the error, but I do not know.
I´m very afraid of this
Thank You

Revoking an earned degree is exceedingly rare and would probably be appropriate only for serious and intentional errors such as fraud. I think you can rest easy on that.

Talk to your advisor and lay it all out. It is better that you find and reveal the errors than if someone else does. Going forward you can still publish, but it will need to be based on correct data, analysis, and interpretations.

It is common in research for errors to appear in old work. It is certainly not a unique occurrence. Attempting to conceal it would be the worst path of all.

You already stated that you do not plan to continue using the erroneous solution. I think this is the right decision, since using a wrong method knowingly is worse than using it by mistake. Additionally, a Master's thesis has less impact than a paper.

Can it have consequences? If the thesis already has been defended and graded, I cannot see any coming. We all make mistakes, that is no academic misconduct.

Oops I was too slow. Buffys answer says it all.

Even if your error invalidated your thesis (not the case as you stated), you still worked and researched, so nonetheless you reached some results, either false or true. This is an accomplishment by itself, even if you found your thesis to be wrong and it is still assumed that you learned valuable experience from your master's thesis.

Moreover the fact that you found and corrected a calculation error is a good sign you learned to review your work, even if it slipped out at first (and it slipped out from the people supposed to read and review it too, so don't be hard on yourself).

It is not all on you. You defended your thesis -- presumably in front of experts who know the subject matter and an advisor who read the thesis. It is unlikely that the mistake is as egregious as you fear. Otherwise, those in charge would likely have noticed. They gave an endorsement of the fundamental quality of your research efforts, and no subsequent rethinking of that research can negate that endorsement (unless you are guilty of some blatant dishonesty, which doesn't seem to be the case).