diff --git a/changelogs/fragments/59638-aws-ec2-plugin-fix-race.yaml b/changelogs/fragments/59638-aws-ec2-plugin-fix-race.yaml
new file mode 100644
index 00000000000..ce88b354ca1
--- /dev/null
+++ b/changelogs/fragments/59638-aws-ec2-plugin-fix-race.yaml
@@ -0,0 +1,2 @@
+bugfixes:
+  - aws_ec2 inventory plugin - fixed race condition when trying to fetch IAM instance profile (role) credentials (https://github.com/ansible/ansible/pull/59638)
diff --git a/lib/ansible/plugins/inventory/aws_ec2.py b/lib/ansible/plugins/inventory/aws_ec2.py
index df139ecfcfe..a565220f266 100644
--- a/lib/ansible/plugins/inventory/aws_ec2.py
+++ b/lib/ansible/plugins/inventory/aws_ec2.py
@@ -579,10 +579,14 @@ class InventoryModule(BaseInventoryPlugin, Constructable, Cacheable):
 
         if not self.boto_profile and not (self.aws_access_key_id and self.aws_secret_access_key):
             session = botocore.session.get_session()
-            if session.get_credentials() is not None:
-                self.aws_access_key_id = session.get_credentials().access_key
-                self.aws_secret_access_key = session.get_credentials().secret_key
-                self.aws_security_token = session.get_credentials().token
+            try:
+                credentials = session.get_credentials().get_frozen_credentials()
+            except AttributeError:
+                pass
+            else:
+                self.aws_access_key_id = credentials.access_key
+                self.aws_secret_access_key = credentials.secret_key
+                self.aws_security_token = credentials.token
 
         if not self.boto_profile and not (self.aws_access_key_id and self.aws_secret_access_key):
             raise AnsibleError("Insufficient boto credentials found. Please provide them in your "