Hi BJS
It is definitely possible. I am in the process of revising my masters thesis for publication and cutting it down a lot to fit into an article. If you check the journal author guidelines it will tell you all you need to know, how many words they are looking for, how it should be formatted, etc etc.
Also, I had my undergrad thesis published a few years ago, I only had a very small sample size of 7 participants but it was an area that was hugely understudied at the time, I emailed the editor my abstract and asked if it was something the journal would be interested in and he asked me to submit my paper for review.
Don't be surprised if they ask you to make a lot of revisions though, this is very common. If you have a good relationship with your masters supervisor speak to them about it too, sometimes a supervisor will help edit your paper for publication and if they are better known in the field than you it doesn't hurt to have them down as a second author.
(I'm also in social science)